Iware Supplychain Services IPO fully subscribed at 2.86 times on final day; check allotment, listing dates

Iware Supplychain Services IPO

Gujarat-based logistics company Iware Supplychain Services has received decent response for its initial public offering from investors on the final day of bidding, April 30. The issue was fully subscribed on Wednesday at 2.86 times.

Investors have bid 81.8 lakh shares compared to the offer size of 28.56 lakh shares via 4,112 applications, the subscription data published on the NSE showed.

The offer was booked 90 percent till the second day of bidding, April 29.

Retail investors subscribed 3.28 times their reserved portion, and the portion set aside for non-institutional investors was booked 2.75 times.

Iware Supplychain Services will finalise the IPO share allotment by May 2, and its shares will be available for trading on the NSE Emerge, effective May 6.

The company is raising Rs 27.13 crore via maiden public issue at a price of Rs 95 per share. These IPO proceeds (excluding offer expenses) will be utilised for the construction of new industrial shed, working capital requirements, and general corporate purpose.

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Incorporated in 2018, Iware Supplychain provides warehousing, transportation, rake handling services, and business auxiliary services in the states like Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi.

The book running lead manager handling the public issue is GetFive Advisors.